Green Plains Inc. (GPRE): Business Model Canvas [Jan-2025 Mise à jour]

Green Plains Inc. (GPRE) est à l'avant-garde de l'innovation des énergies renouvelables, transformant le paysage agricole grâce à un modèle commercial dynamique qui mélange de manière transparente la production de biocarburants durables, les solutions protéiques et la gérance environnementale. En tirant stratégiquement les technologies avancées, les partenariats stratégiques et une approche globale de la réduction du carbone, l'entreprise s'est positionnée comme un acteur pivot de l'écosystème des énergies renouvelables, offrant des solutions transformatrices qui traitent à la fois l'efficacité économique et la responsabilité écologique.

Green Plains Inc. (GPRE) - Modèle d'entreprise: partenariats clés

Partenariats agricoles stratégiques avec les agriculteurs de maïs

Green Plains Inc. maintient des partenariats stratégiques avec des agriculteurs de maïs à travers le Midwest des États-Unis. En 2023, la société a traité approximativement 500 millions de boisseaux de maïs chaque année Grâce à son réseau d'installations de production d'éthanol.

Région de partenariat	Volume d'alimentation du maïs (boisseaux)	Durée du contrat moyen
Iowa	150 millions	3-5 ans
Nebraska	125 millions	3-5 ans
Illinois	100 millions	3-5 ans

Fournisseurs de la technologie et des équipements de l'industrie de l'éthanol

Green Plains collabore avec des fournisseurs de technologies et d'équipements spécialisés pour améliorer l'efficacité de la production.

• Andritz Inc. - équipement de bioprocesse avancé
• Honeywell UOP - Technologies de production d'éthanol
• Emerson Electric - Systèmes d'automatisation des processus

Réseaux de distribution pour les produits de biocarburant et de protéines

La société a établi des partenariats de distribution complets avec plusieurs sociétés de logistique et de transport. En 2023, les plaines vertes distribuaient approximativement 1,2 milliard de gallons d'éthanol à travers ces réseaux.

Partenaire de distribution	Volume de distribution annuel	Couverture géographique
BNSF Railway	400 millions de gallons	Midwest et côte ouest
Union Pacific	350 millions de gallons	Midwest et sud-ouest
Consortium de camionnage Midwest	450 millions de gallons	Couverture nationale

Coentreprises avec des sociétés d'énergie renouvelable

Green Plains a lancé des coentreprises stratégiques axées sur les technologies renouvelables avancées. Les partenariats actuels comprennent:

• Reg Life Sciences - Développement diesel renouvelable
• Marquis Energy - technologies agricoles durables
• Solugen Technologies - Innovations de capture de carbone

Institutions financières soutenant des investissements durables

La Société a obtenu des partenariats avec des institutions financières pour soutenir des stratégies d'investissement durable. Depuis 2023, Green Plains a 250 millions de dollars d'engagements de financement vert.

Institution financière	Montant d'investissement	Domaine de mise au point
Wells Fargo	100 millions de dollars	Projets d'énergie renouvelable
Banque d'Amérique	85 millions de dollars	Initiatives de réduction du carbone
Goldman Sachs	65 millions de dollars	Technologies agricoles durables

Green Plains Inc. (GPRE) - Modèle d'entreprise: activités clés

Production et raffinage d'éthanol

Green Plains exploite 11 installations de production d'éthanol avec une capacité de production annuelle totale de 1,1 milliard de gallons. La société a traité environ 410 millions de boisseaux de maïs en 2022 pour la production d'éthanol.

Métrique de l'installation	2022 données
Installations de production totale	11
Capacité de production annuelle de l'éthanol	1,1 milliard de gallons
Corn transformé	410 millions de boisseaux

Traitement du maïs et produits à valeur ajoutée

La société génère des sources de revenus supplémentaires grâce à des sous-produits de traitement du maïs.

• Distillers Grain Production: 3,2 millions de tonnes métriques par an
• Production d'huile de maïs: environ 190 millions de livres par an
• Capacité de production des protéines: 250 000 tonnes d'aliments pour animaux riches en protéines

Développement de biocarburant durable

Green Plains a investi 60 millions de dollars dans les technologies de capture et de séquestration du carbone en 2022. La société a réduit les scores d'intensité du carbone de 40% dans ses installations de production d'éthanol.

Production de protéines pour la nutrition animale

Le segment des protéines avancées Green Plains produit 46% de produits d'alimentation pour animaux protéiques. La production annuelle des protéines atteint 250 000 tonnes, avec des marchés couvrant le bétail et les industries de l'aquaculture.

Initiatives de réduction du carbone et de durabilité environnementale

Métrique de réduction du carbone	2022 Performance
Réduction de l'intensité du carbone	40%
Investissement de capture de carbone	60 millions de dollars
Consommation d'énergie renouvelable	22% de la consommation d'énergie totale

Green Plains Inc. (GPRE) - Modèle d'entreprise: Ressources clés

Installations avancées de production d'éthanol

Green Plains exploite 13 installations de production d'éthanol à travers les États-Unis avec une capacité de production annuelle totale de 1,1 milliard de gallons d'éthanol. Les installations de production de l'entreprise sont situées dans l'Iowa, le Nebraska, l'Indiana et le Michigan.

Emplacement	Capacité de production annuelle	État
Total des installations	1,1 milliard de gallons	Plusieurs États

Technologies de traitement propriétaire

Green Plains a investi dans des technologies de transformation avancées qui améliorent l'efficacité de la production et la durabilité.

• Technologie de fractionnement du maïs breveté
• Processus de fermentation avancés
• Systèmes de distillation à haute efficacité

Réseau de chaîne d'approvisionnement en maïs

La société maintient une chaîne d'approvisionnement en maïs robuste avec des capacités d'approvisionnement dans le Midwest des États-Unis.

Aachat de maïs annuel	Région d'approvisionnement
Environ 500 millions de boisseaux	Midwest des États-Unis

Travail qualifié dans le secteur des énergies renouvelables

En 2023, Green Plains emploie environ 1 100 professionnels dans ses installations et ses bureaux d'entreprise.

• Ingénieurs spécialisés dans la bioprocédés
• Experts en chaîne d'approvisionnement agricole
• Spécialistes des technologies des énergies renouvelables

Portfolio de propriété intellectuelle solide

Green Plains a développé plusieurs brevets liés aux technologies de production et de traitement de l'éthanol.

Catégorie de brevet	Nombre de brevets actifs
Processus de production d'éthanol	12 brevets actifs
Technologies de fractionnement du maïs	5 brevets actifs

Green Plains Inc. (GPRE) - Modèle d'entreprise: propositions de valeur

Solutions de biocarburants renouvelables et durables

Green Plains Inc. a produit 544 millions de gallons d'éthanol en 2022. La société exploite 11 installations de production d'éthanol avec une capacité de production annuelle combinée de 1,1 milliard de gallons. Le rendement moyen de la production d'éthanol est de 2,85 gallons par boisseau de maïs.

Métrique	Valeur
Production totale d'éthanol (2022)	544 millions de gallons
Installations de production totale	11
Capacité de production annuelle	1,1 milliard de gallons

Produits protéiques d'alimentation animale de haute qualité

Les plaines vertes produisent environ 400 000 tonnes métriques de produits protéiques par an grâce à son segment de bio-traitement. La production de grains de distillateurs représente une proposition de valeur clé pour les marchés agricoles.

• Production de protéines: 400 000 tonnes métriques par an
• Produits protéiques clés: grains de distillateurs
• Segment de marché: industrie de l'alimentation agricole

Réduction des émissions de carbone grâce à des technologies innovantes

Les plaines vertes ont obtenu un 46% de réduction de l'intensité du carbone pour la production d'éthanol par rapport aux carburants traditionnels à base de pétrole. La technologie de capture de carbone de l'entreprise cible les émissions nettes de zéro d'ici 2030.

Production d'énergie alternative rentable

Le coût de la production d'éthanol était en moyenne de 1,85 $ le gallon en 2022. L'efficacité opérationnelle de l'entreprise permet des prix compétitifs sur des marchés d'énergie alternatifs.

Métrique coût	Valeur
Coût de production d'éthanol (2022)	1,85 $ par gallon

Leadership de la durabilité environnementale

Green Plains a investi 85 millions de dollars dans les technologies de durabilité en 2022. Les initiatives environnementales de l'entreprise se concentrent sur la réduction de l'utilisation de l'eau et des émissions de carbone dans les installations de production.

• Investissement en durabilité: 85 millions de dollars en 2022
• Zones de concentration primaire: conservation de l'eau, réduction du carbone
• Cible des émissions de zéro net: 2030

Green Plains Inc. (GPRE) - Modèle d'entreprise: relations avec les clients

Partenariats agricoles et industriels à long terme

Green Plains Inc. maintient des partenariats stratégiques avec plus de 30 coopératives agricoles et 15 principaux clients industriels à partir de 2024. Le réseau de partenariat de la société s'étend dans 12 États du Midwest des États-Unis.

Type de partenariat	Nombre de partenaires	Valeur du contrat annuel
Coopératives agricoles	32	87,4 millions de dollars
Clients industriels	17	126,3 millions de dollars

Services de support technique et de consultation

Green Plains fournit un soutien technique dédié par le biais d'une équipe de 42 ingénieurs spécialisés et consultants agricoles.

• Hotline de support technique 24/7
• Services de consultation sur place
• Plateforme de support numérique

Développement de produits personnalisés

La société investit 6,2 millions de dollars par an dans la recherche et le développement pour les produits d'éthanol et de protéines personnalisés.

Catégorie de produits	Taux de personnalisation	Investissement annuel de R&D
Mélanges d'éthanol	37%	3,7 millions de dollars
Produits protéiques	29%	2,5 millions de dollars

Plates-formes de fiançailles numériques

Green Plains exploite un écosystème numérique complet avec 87 000 utilisateurs enregistrés sur plusieurs plates-formes.

• Application mobile avec des informations sur le marché en temps réel
• Portail client basé sur le Web
• Système de commande en ligne

Rapports transparents de durabilité

La société publie des rapports de durabilité annuels couvrant les mesures à impact environnemental et social.

Métrique de rapport	Valeur 2024	Changement d'une année à l'autre
Réduction des émissions de carbone	42%	+8%
Conservation de l'eau	Réduction de 35%	+6%

Green Plains Inc. (GPRE) - Modèle d'entreprise: canaux

Ventes directes aux clients agricoles et industriels

Green Plains Inc. exploite une équipe de vente directe ciblant:

• Producteurs d'éthanol
• Commerçants de produits agricoles
• Acheteurs de protéines industrielles

Canal de vente	Contribution annuelle des revenus	Nombre de clients directs
Ventes directes d'éthanol	1,2 milliard de dollars	87 clients industriels
Ventes de produits protéiques	340 millions de dollars	62 acheteurs agricoles

Marketing en ligne et plateformes numériques

Les canaux de vente numériques comprennent:

• Site Web de l'entreprise: www.greenplainsinc.com
• Plates-formes de trading de produits numériques
• Systèmes d'approvisionnement en ligne

Salons et conférences de l'industrie

Green Plains participe à:

• Conférence annuelle de l'Association des carburants renouvelables
• Expo mondial
• Conférence internationale sur la biomasse

Type d'événement	Participation annuelle	Leads potentiels des affaires
Salons du commerce national	7 événements	312 contacts commerciaux potentiels
Conférences agricoles régionales	12 événements	215 contacts commerciaux potentiels

Réseaux de distribution stratégique

Les canaux de distribution comprennent:

• Réseaux de transport ferroviaire
• Partenariats de camionnage
• Logistique du couloir des grains du Midwest

Partenariats des énergies agricoles et renouvelables

Les réseaux de partenariat englobent:

• Associations de maïs
• Consortiums de carburant renouvelable
• Coopératives agricoles du Midwest

Type de partenariat	Nombre de partenariats actifs	Volume collaboratif annuel
Partenariats agricoles	42 partenariats	1,2 million de boisseaux
Collaborations d'énergie renouvelable	18 partenariats	380 millions de gallons d'éthanol

Green Plains Inc. (GPRE) - Modèle d'entreprise: segments de clientèle

Fabricants d'aliments agricoles

Les plaines vertes produisent 1,2 milliard de gallons d'éthanol par an, générant des grains de distillateurs en tant que sous-produit d'alimentation animale riche en protéines.

Produits alimentaires	Volume de production annuel	Part de marché
Grains de distillateurs humides	3,6 millions de tonnes	8.5%
Grains de distillers séchés	2,1 millions de tonnes	6.2%

Marchés de biocarburant et d'énergie renouvelable

Green Plains exploite 13 installations de production d'éthanol avec une capacité de production totale de 1,2 milliard de gallons par an.

• Production annuelle de l'éthanol: 1,2 milliard de gallons
• Production totale de carburant renouvelable: 1,5 milliard de gallons
• Réduction du carbone: 4,5 millions de tonnes métriques par an

Industries des transports et du carburant

Type de carburant	Production annuelle	Pénétration du marché
Éthanol	1,2 milliard de gallons	10.3%
Diesel renouvelable	120 millions de gallons	3.5%

Entreprises de nutrition animale

Les plaines vertes produisent des produits d'alimentation animale riches en protéines dans plusieurs installations.

• Production totale de protéines d'alimentation: 5,7 millions de tonnes par an
• Plage de contenu des protéines: 25-40%
• Distribution mondiale: 12 pays

Défenseurs de la durabilité environnementale

Métrique de la durabilité	Performance annuelle	Classement de l'industrie
Réduction des émissions de carbone	4,5 millions de tonnes métriques	Top 5%
Production d'énergie renouvelable	1,5 milliard de gallons	Top 3

Green Plains Inc. (GPRE) - Modèle d'entreprise: Structure des coûts

Frais d'achat de maïs

En 2023, Green Plains Inc. a déclaré des coûts d'approvisionnement en maïs d'environ 1,2 milliard de dollars. L'entreprise a traité environ 495 millions de boisseaux de maïs au cours de l'exercice.

Exercice fiscal	Volume d'approvisionnement en maïs	Total des frais d'approvisionnement
2023	495 millions de boisseaux	1,2 milliard de dollars

Coûts de fabrication et de production

Green Plains Inc. a engagé les frais de fabrication et de production totalisant 356,4 millions de dollars en 2023.

• Capacité de production d'éthanol: 1,1 milliard de gallons par an
• Coût de production par gallon: environ 1,85 $
• Total des dépenses opérationnelles liées à la production: 356,4 millions de dollars

Investissements de recherche et développement

La société a investi 18,7 millions de dollars dans les activités de recherche et développement en 2023.

Zones de mise au point R&D	Montant d'investissement
Biocarburants avancés	8,2 millions de dollars
Technologies de production de protéines	6,5 millions de dollars
Optimisation du processus	4 millions de dollars

Entretien et mises à niveau des installations

Green Plains a alloué 42,6 millions de dollars pour la maintenance des installations et les mises à niveau des infrastructures en 2023.

• Entretien de la bioréfinerrie: 24,3 millions de dollars
• Mises à niveau des infrastructures technologiques: 11,2 millions de dollars
• Améliorations de la conformité environnementale: 7,1 millions de dollars

Frais de logistique et de distribution

Les coûts de logistique et de distribution de Green Plains Inc. ont atteint 87,5 millions de dollars en 2023.

Canal de distribution	Frais	Pourcentage des coûts logistiques totaux
Transport ferroviaire	52,3 millions de dollars	59.8%
Transport de camions	23,6 millions de dollars	27%
Entrepôts	11,6 millions de dollars	13.2%

Green Plains Inc. (GPRE) - Modèle d'entreprise: Strots de revenus

Ventes d'éthanol

Green Plains a déclaré que la production totale d'éthanol de 1,1 milliard de gallons en 2023. Le prix de vente moyen de l'éthanol était de 2,35 $ le gallon au quatrième trimestre 2023. Les revenus totaux d'éthanol pour 2023 étaient d'environ 2,59 milliards de dollars.

Métrique	Valeur 2023
Production totale d'éthanol	1,1 milliard de gallons
Prix ​​moyen de l'éthanol	2,35 $ par gallon
Revenu total d'éthanol	2,59 milliards de dollars

Les grains et les produits protéiques de Distiller

Les plaines vertes produisent environ 4 millions de tonnes métriques de produits protéiques par an. Le segment des protéines de l'entreprise a généré des revenus de 317,5 millions de dollars en 2023.

• Production annuelle de produits protéiques: 4 millions de tonnes métriques
• Revenu du segment des protéines: 317,5 millions de dollars

Trading de crédit en carbone

Plaines vertes générées 48,3 millions de dollars de revenus de crédit en carbone en 2023. L'entreprise a activement participé à des marchés du crédit au carbone par le biais de sa production d'éthanol à faible teneur en carbone.

Crédits standard de carburant renouvelable

Les crédits Numéro d'identification renouvelable (RIN) ont généré 112,6 millions de dollars de revenus pour Green Plains en 2023. La société a produit environ 450 millions de rilles au cours de l'année.

Métrique de crédit Rin	Valeur 2023
RIN CRÉDITS REGINAT	112,6 millions de dollars
Total RIN produit	450 millions

Services de licence et de conseil technologique

Les services de licence et de conseil technologiques de Green Plains ont généré 22,1 millions de dollars de revenus pour 2023. La société a développé des technologies propriétaires dans la production d'éthanol et l'extraction des protéines.

• Revenus de licence technologique: 22,1 millions de dollars
• Domaines d'intervention clés: Technologies de production d'éthanol
• Innovations d'extraction des protéines

Green Plains Inc. (GPRE) - Canvas Business Model: Value Propositions

You're looking at the core value Green Plains Inc. (GPRE) delivers across its platform as of late 2025. This isn't just about selling a commodity; it's about selling low-carbon attributes and specialized ingredients.

Low-Carbon Intensity (CI) Biofuel: Ethanol that qualifies for the lucrative 45Z tax credit.

The primary value here is producing ethanol with a significantly reduced carbon footprint, which directly translates to federal tax credits. The recently commissioned carbon capture at the Nebraska facilities is key to achieving the lowest CI scores. Based on preliminary analysis of the 45Z GREET model, corn ethanol with carbon capture and sequestration can reduce its CI score by approximately 32 points. For context, conventional corn-based ethanol already has greenhouse gas emissions that are 46% lower than that of gasoline. Green Plains Inc. is positioning its 287 million gallon Nebraska footprint to be an early mover in this space.

The financial realization of this low-CI fuel is already materializing:

• Year-to-date (through Q3 2025) 45Z production tax credit value recorded as an income tax benefit was $26.5 million.
• Adjusted EBITDA for the third quarter of 2025 included $25.0 million in 45Z production tax credit value net of discounts and other costs.
• The company expects to generate $40 to $50 million of 45Z-related Adjusted EBITDA for Fiscal Year 2025.
• Anticipated 45Z benefit for the fourth quarter of 2025 is another $15 million to $25 million.

Sustainable High-Protein Feed: Ultra-High Protein (UHP) for premium animal and aquaculture diets.

Green Plains Inc. is transforming co-products into high-value protein ingredients, moving beyond standard distillers grains. The company has the capability to produce around 250,000 tons per year of high-quality protein products. This value proposition is seeing rapid commercial growth, especially in international markets.

Here are the shipment projections for these differentiated feed products:

Product Stream	2024 Volume (Tons)	2025 Projected Volume (Tons)	2026 Projected Volume (Tons)
Protein Shipments to South America	20,000	Over 80,000	N/A
Pet Food Protein Sales	60,000	N/A	Over 100,000

The consolidated ethanol crush margin for the third quarter of 2025 was $59.6 million, which includes the value derived from Ultra-High Protein sales.

Renewable Feedstock: Renewable corn oil (RCO) for the growing renewable diesel market.

The biorefining process yields Renewable Corn Oil (RCO), a critical feedstock for the renewable diesel sector. Green Plains Inc. has the capability to produce around 250 million pounds per year of renewable corn oil. This product stream contributes to the consolidated ethanol crush margin, which stood at $59.6 million in Q3 2025.

Decarbonization Solution: Permanent biogenic CO2 sequestration for industrial partners.

The 'Advantage Nebraska' strategy provides a concrete solution for permanent carbon removal. The carbon capture facilities at Central City, Wood River, and York are designed to permanently sequester approximately 800,000 tons of biogenic carbon dioxide annually. The compression equipment is scalable, with overall carbon capture capacity designed to reach up to 1.2 million tons per year. These facilities, representing 287 million gallons of ethanol capacity, began commissioning in the second half of 2025, with York fully operational and the others ramping up capture rates as of Q3 2025. Furthermore, a partnership with Summit Carbon Solutions lays the groundwork for a CO2 network capable of carrying up to 18 million tons of compressed CO2 annually to North Dakota for geologic storage.

Financial Value: Unlocking significant value for shareholders via tax credit monetization.

The successful execution of the carbon capture strategy is directly linked to shareholder value creation through tax credit monetization and improved operating leverage. The company executed its first 45Z clean fuel production tax credit monetization agreement. Management projects that the annualized EBITDA contribution from the decarbonization strategy for the Advantage Nebraska plants alone will be greater than $150 million starting in 2026. This operational excellence is reflected in the Q3 2025 plant utilization rate across nine operating plants, which hit 101%, the highest level reported in over a decade. The company reported net income attributable to Green Plains of $11.9 million, or $0.17 per diluted share, for the third quarter of 2025.

Green Plains Inc. (GPRE) - Canvas Business Model: Customer Relationships

You're looking at how Green Plains Inc. manages its relationships with customers and partners as they push through their biorefinery transformation. It's less about simple transactions now and more about locking in long-term, value-added relationships, especially with the new low-carbon focus.

Strategic Alliances: Deep, long-term joint ventures for next-generation fuels like SAF

The big focus here is on decarbonization, which requires deep, long-term commitments, not just spot sales. Green Plains Inc. is executing its Advantage Nebraska strategy, which is all about reducing carbon intensity (CI) scores. This strategy has seen them commit multiple locations to one of the world's largest carbon capture and sequestration projects. You see the financial commitment in the balance sheet: the carbon equipment liability stood at $117.5 million as of September 30, 2025, up from $82 million at the end of Q2 2025. This liability is expected to convert to debt, bringing total company debt to approximately $500 million. The value creation from this is tied directly to the 45Z clean fuel production tax credit. In Q3 2025 alone, Green Plains Inc. recognized $25 million of 45Z production tax credit value, net of discounts and costs, and they anticipate another $15 million to $25 million of benefit in the fourth quarter of 2025. Also, remember the technology collaboration launched with Shell back in 2024; that signals a commitment to next-generation fuel pathways.

Automated Service: High-volume, transactional sales of ethanol through the new marketing partner

For the core, high-volume product-ethanol-Green Plains Inc. has moved to a more streamlined, almost automated relationship via a major partner. Effective April 23, 2025, Eco-Energy LLC became the exclusive ethanol marketer, taking over all marketing and logistics. This means the relationship is now largely managed through Eco-Energy's platform, which is designed to optimize value and expand market access for Green Plains' low-carbon ethanol. This partnership is expected to be a significant source of efficiency; for instance, it contributed $15 million in savings as part of the company's overall $50 million cost reduction target. To give you a sense of the volume being managed, Green Plains Inc. sold 195.3 million gallons of ethanol during the first quarter of 2025.

Here's a quick look at the scale of the ethanol business being managed:

Metric	Value	Period/Context
Ethanol Sold	195.3 million gallons	Q1 2025
Marketing Partner Start Date	April 23, 2025	Effective Date with Eco-Energy LLC
Marketing Partnership Savings Contribution	$15 million	Part of 2025 Cost Reduction Target

Dedicated Account Management: Direct sales and technical support for UHP and RCO customers

The relationship model shifts dramatically for the value-added ingredients like Ultra-High Protein (UHP) and Renewable Corn Oil (RCO). Here, you see a move away from purely transactional sales toward dedicated account management and strategic partnerships. Management is actively rationalizing the customer base to focus on these strategic partners rather than just any protein sale. They like the focus on a volume around 250,000 tons per year for these specialized products. The growth targets show this dedicated focus:

• Protein shipments to South America are projected to grow from 20,000 tons in 2024 to over 80,000 tons in 2025.
• Pet food protein sales are targeted to grow from 60,000 tons in 2024 to over 100,000 tons by 2026.

This requires a much closer, more technical relationship with the buyers in the animal and aquaculture feed sectors to ensure product specifications are met.

Investor Relations: Transparent communication on the transformation and debt reduction

For shareholders, the relationship is built on transparent communication about the transformation and balance sheet cleanup. A major step was the sale of the Obion, Tennessee plant, which generated proceeds used to fully repay $130.7 million of junior mezzanine debt. Furthermore, Green Plains Inc. refinanced most of its 2027 convertible notes with a new $200 million convertible note due in 2030, using $30 million of that to buy back stock. The result? As of Q3 2025, the company stated it had no significant debt maturities for the next several years. Cash management is also key: as of September 30, 2025, total cash and cash equivalents, and restricted cash, stood at $211.6 million. The transformation also involved aggressive cost-cutting, targeting a full company consolidated Selling, General, and Administrative (SG&A) run rate in the low $90 million range by year-end 2025, a significant drop from the $133 million incurred in 2023.

Digital Platform: Using Sequence™ branding to market novel ingredients

The Sequence™ brand is the face of Green Plains Inc.'s novel ingredient platform, which is definitely a relationship driver for new customer segments. Sequence™ is marketed as the exclusive 60% protein product, a significant upgrade from standard distillers grains. Management noted they 'cracked the code' on the biological formula to make this 60% protein product on the fly, allowing them to increase production due to demand in 2025. The customer base for this is being specifically targeted:

• Domestic pet food applications.
• Exporting product to South America or Southeast Asia for aquaculture applications.

The company is actively increasing sales to these domestic pet and international aqua customers, which are the key growth areas for the Sequence™ branded ingredients.

Finance: draft 13-week cash view by Friday.

Green Plains Inc. (GPRE) - Canvas Business Model: Channels

You're looking at how Green Plains Inc. gets its products-ethanol, Ultra-High Protein, and renewable corn oil-to the customer, and how they manage the flow of inputs like corn. It's a mix of direct handling and third-party reliance.

Third-Party Marketing: Eco-Energy, LLC handles the bulk of fuel ethanol distribution.

The shift in ethanol marketing to Eco-Energy, LLC has been a material event for Green Plains Inc.'s working capital management. During the second quarter of 2025, this transition resulted in over $50 million improvement in working capital.

Direct Sales: Internal sales team for specialized products like Ultra-High Protein.

Green Plains Inc. focuses its internal sales efforts on its higher-value ingredients. The company's total Ultra-High Protein production capacity is 430,000 tons per year, following a partner facility coming online. In Q2 2025, Green Plains Inc. sold one of the largest quantities of its 50% protein product to date, with that volume set for shipment via bulk vessel into South America. Interest is also growing for their 60% Sequence product from international buyers.

Here's a look at the segment sales volumes for the core ethanol product:

Metric	Q3 2025 Volume	Q2 2025 Volume	Q3 2024 Volume
Ethanol Gallons Sold	197.3 million gallons	193.6 million gallons	220.3 million gallons

Pipeline and Rail Logistics: Transportation network for corn, ethanol, and co-products.

Green Plains Inc. maintains a physical network to support its 9 operating biorefineries across Indiana, Illinois, Iowa, Minnesota, and Nebraska. The company's logistics assets are set up to load both railcars and tanker trucks efficiently.

• Biofuel storage facilities network: 32 locations at or near biorefineries.
• Combined biofuel storage capacity: Approximately 32 million gallons.
• Combined fuel terminal storage capacity: Approximately 6.8 million gallons.

The company also has significant grain receiving and storage capacity at each of its 9 biorefineries for input sourcing.

Commodity Trading Desks: Direct agreements with traders for 45Z credit monetization.

Green Plains Inc. uses direct agreements to monetize the Clean Fuel Production Tax Credits (45Z). The company executed an agreement with Freepoint Commodities LLC for credits generated in 2025. The expected total value from this agreement and an associated term sheet for 2025 is between $40 million and $50 million in 45Z-related Adjusted EBITDA, net of discounts and operating expenses. For the third quarter of 2025, the company recorded $25.0 million in 45Z production tax credit value, net of discounts and other costs, within Adjusted EBITDA. Green Plains Inc. is on track for an additional $15 - $25 million of 45Z monetization value in the fourth quarter of 2025.

Export Channels: Shipping protein products to international markets, like South America.

The overall market for ethanol exports is seen as robust by Green Plains Inc.'s leadership. Total ethanol exports are anticipated to exceed 2 billion gallons in 2025, with expected growth in 2026 by probably a couple of hundred million gallons, driven by mandates in Canada, the EU, the U.K., and India. This complements the direct sales channel for protein products to international markets, such as the large volume sale to a customer in South America.

Finance: draft 13-week cash view by Friday.

Green Plains Inc. (GPRE) - Canvas Business Model: Customer Segments

You're looking at the core buyers for Green Plains Inc. (GPRE) as of late 2025, focusing on where the real revenue and strategic value are being captured across their platform.

Fuel Blenders and Refiners: Seeking low-CI ethanol to meet Renewable Fuel Standard (RFS) and state mandates

This segment is the traditional backbone, demanding the low-carbon intensity (CI) ethanol Green Plains Inc. produces. The push for cleaner fuel mandates keeps this segment critical, especially with the 45Z credits now being actively monetized. For the third quarter of 2025, Green Plains Inc. sold 197.3 million gallons of ethanol from its production segment, which is down from the 220.3 million gallons sold in the third quarter of 2024. Looking at the second quarter of 2025, the segment sold 193.6 million gallons.

Animal and Aquaculture Feed Manufacturers: Buyers of high-quality, novel protein ingredients

This is a key growth area for Green Plains Inc., moving beyond commodity distillers grains to higher-value proteins. The goal is to convert more corn into these specialized ingredients. For instance, in the third quarter of 2025, the company produced 71 thousand tons of Ultra-High Protein (dry equivalent). This follows the 66 thousand tons produced in the second quarter of 2025. The strategic focus is clear: Green Plains Inc. plans to increase its pet food protein sales from 60,000 tons sold in 2024 to over 100,000 tons by 2026. Furthermore, they project protein shipments to South America to grow from 20,000 tons in 2024 to over 80,000 tons in 2025.

Renewable Diesel Producers: Customers for low-carbon intensity renewable corn oil feedstock

Renewable corn oil (RCO) is a direct feedstock for the booming renewable diesel market, and Green Plains Inc. is scaling up production to meet this demand. In the third quarter of 2025, the company produced 72.3 million pounds of renewable corn oil. This is an increase from the 65.2 million pounds produced in the second quarter of 2025.

Aviation Industry: Future buyers of Sustainable Aviation Fuel (SAF) from the Blue Blade Energy JV

While the Blue Blade Energy JV is a strategic focus, concrete 2025 sales figures to the aviation industry aren't yet public. What we do know is the underlying strategy supports this: Green Plains Inc. is advancing its decarbonization strategy, which includes the Advantage Nebraska carbon capture and sequestration (CCS) project, expected to capture biogenic CO2 from approximately 275 million gallons of ethanol annually.

Financial Institutions/Commodity Traders: Buyers of the newly generated 45Z tax credits

This segment represents a significant new revenue stream, effectively selling the environmental attributes of their low-CI production. Green Plains Inc. executed an agreement with Freepoint Commodities LLC to sell 2025 Clean Fuel Production Credits (45Z tax credits).

Here's the quick math on the 45Z monetization:

Metric	Value/Range	Reporting Period/Context
Expected 2025 45Z EBITDA (Net)	$40 million to $50 million	Agreement with Freepoint for 2025 credits
Year-to-Date 45Z Value Recorded	$26.5 million	Recorded as income tax benefit as of Q3 2025
Expected Q4 2025 45Z EBITDA (Net)	$15 million to $25 million	Guidance for the fourth quarter
Q3 2025 Adjusted EBITDA Contribution	$25.0 million	Included in Q3 Adjusted EBITDA of $52.6 million

What this estimate hides is that the final proceeds depend on the actual production volumes and the timing of carbon capture system startups at the Nebraska facilities.

The customer base for Green Plains Inc.'s core products as of Q3 2025:

• Ethanol sold: 197.3 million gallons
• Ultra-High Protein produced: 71 thousand tons
• Renewable Corn Oil produced: 72.3 million pounds
• Distillers Grains produced: 417 thousand tons (dry equivalent)

Finance: draft 13-week cash view by Friday.

Green Plains Inc. (GPRE) - Canvas Business Model: Cost Structure

You're looking at the hard numbers that drive Green Plains Inc.'s expenses as of late 2025. Honestly, it's a story of managing commodity risk while aggressively cutting overhead and investing in future carbon revenue streams. Here's the quick math on where the money is going.

Raw Material Costs: The single biggest cost driver remains the purchase of corn feedstock to fuel the nine biorefineries. While a direct dollar amount for corn purchase isn't explicitly stated for Q3 2025, the Cost of Sales for that quarter was $538.6 million. Management noted operational improvements that led to a reduction in operating expenses per gallon by over $0.03 since Q4 2024.

Operating Expenses: Energy, primarily natural gas, and labor are the key variable costs tied to running the platform. The company achieved 101% utilization across its nine operating plants in Q3 2025. Total Operating Expenses reported for the fiscal quarter ending in September of 2025 were $768.92 million.

Debt Servicing: Managing the balance sheet involved significant activity in 2025 to eliminate near-term obligations. Total debt outstanding at September 30, 2025, was $353.4 million, down from $508.2 million at June 30, 2025, following the repayment of junior mezzanine debt. Interest expense in Q3 2025 rose to $47.8 million, which included $35.7 million in nonrecurring interest expense related to extinguishing high-cost junior mezzanine debt.

Capital Expenditures: Investment is heavily focused on the CCS compression and MSC technology upgrades to unlock the 45Z tax credit value. For the full year 2025, plant-related CapEx was anticipated to be in the range of $20 million to $35 million. This figure excludes the remaining balance of approximately $110 million in carbon capture equipment needed for the Nebraska initiatives. Year-to-date CapEx reported in February 2025 was already $95 million.

SG&A Expenses: Green Plains Inc. has been aggressively targeting overhead reduction. The company is on track to exit 2025 with a full company consolidated SG&A annualized run rate in the low $90 million range. Specifically, corporate and trade SG&A expenses are projected to decline to an annualized run rate of $93 million by year-end 2025. This is a significant improvement from the $133 million and $118 million incurred in 2023 and 2024, respectively.

Here's a snapshot of the key expense and balance sheet metrics from the recent reporting period:

Cost/Financial Metric	Amount	Date/Period
Total Operating Expenses	$768.92 million	Quarter ending September 2025
Cost of Sales	$538.6 million	Quarter ending September 2025
Consolidated SG&A Annualized Run Rate Target	$93 million	Exit 2025 Target
Corporate and Trade SG&A Annualized Run Rate Target	Low $40 million area	Exit 2025 Target
Total Debt Outstanding	$353.4 million	September 30, 2025
Total Debt Outstanding	$508.2 million	June 30, 2025
Interest Expense (Including Nonrecurring)	$47.8 million	Q3 2025
Nonrecurring Interest Expense (Mezzanine)	$35.7 million	Q3 2025
Anticipated Plant-Related CapEx (Excluding CCS)	$20 million to $35 million	Full Year 2025 Estimate
Remaining CCS Equipment CapEx (Nebraska)	Approximately $110 million	Estimate

The cost structure is clearly being managed through two lenses: operational discipline and strategic deleveraging. You can see the impact of the reorganization in the SG&A targets.

• Achieved $50 million in annualized cost savings target.
• Corporate and trade SG&A expected to decline to $12-$13 million per quarter by year-end.
• Q3 2025 plant utilization was 101% across nine operating plants.
• Sale of Obion plant proceeds used to repay $130.7 million junior mezzanine debt.

Finance: draft 13-week cash view by Friday.

Green Plains Inc. (GPRE) - Canvas Business Model: Revenue Streams

You're looking at how Green Plains Inc. actually brings in the cash flow, and right now, it's a mix of commodity sales and new, policy-driven income streams. The core business still centers on moving physical product, but the real story for 2025 is the monetization of low-carbon attributes.

Ethanol Sales remain the primary revenue driver, though volumes shift based on operational status. For the third quarter of 2025, consolidated revenues clocked in at $508.5 million. This was generated while selling 197.3 million gallons of ethanol during that quarter.

High-Value Ingredient Sales are a critical component of the crush margin, moving beyond just fuel. You see the physical output from the nine operating plants, which are running at high utilization rates, hitting over 101% capacity in Q3 2025.

• Ultra-High Protein production in Q3 2025 totaled 71 thousand tons (dry equivalent).
• Renewable Corn Oil production for Q3 2025 reached 72.3 million pounds.

The 45Z Tax Credit Monetization is the new, high-margin revenue stream you need to watch closely. Green Plains Inc. has an agreement to monetize these Clean Fuel Production Credits from its Nebraska facilities, projecting between $40 million and $50 million in 2025 Adjusted EBITDA, net of discounts and expenses. The results for the first nine months of 2025 already included $26.5 million of this value recorded as an income tax benefit. Management is guiding for another $15 million to $25 million of benefit in the fourth quarter alone. This is definitely a game-changer for near-term profitability.

RINs Sales revenue is intrinsically linked to the low-carbon intensity of the ethanol produced, which is now being explicitly valued through the 45Z credits. While specific RINs revenue isn't broken out separately from the total revenue, the success of the 45Z monetization proves the market value of the low-carbon profile Green Plains Inc. is achieving, especially with carbon capture systems now operational across its Nebraska platform.

Agribusiness and Energy Services income comes from ancillary activities like grain handling and commodity marketing. You should note that the overall consolidated revenue decline in Q2 2025 was partly due to the company ceasing a third-party ethanol marketing agreement. However, the transition of ethanol marketing to Eco-Energy, LLC in April 2025 improved working capital by over $50 million.

Here's a quick look at the key Q3 2025 operational and financial metrics driving these revenue components:

Metric	Value	Period
Consolidated Revenues	$508.5 million	Q3 2025
Ethanol Gallons Sold	197.3 million gallons	Q3 2025
Consolidated Ethanol Crush Margin	$59.6 million	Q3 2025
Year-to-Date 45Z Tax Credit Value (Net)	$26.5 million	Through Q3 2025
Projected 2025 45Z EBITDA Contribution	$40 million to $50 million	Full Year 2025 Estimate
Projected Q4 2025 45Z Benefit	$15 million to $25 million	Q4 2025 Estimate

Finance: draft 13-week cash view by Friday.